Axcella’s stock is up 10% after sharing new data for its NASH treatment

Shares of Axcella Therapeutics Inc. AXLA, +7.24% gained 10.9% in premarket trading on Thursday after the biotech said its experimental treatment for nonalcoholic steatohepatitis (NASH) showed statistically significant improvement in liver stiffness at 24 weeks. The Phase 2b trial is ongoing. The company expects to have topline data from the 48-week mark by the first half of 2024. Axcella’s stock is down 17.2% this year, while the broader S&P 500 SPX, -1.66% has declined 21.9%.